Concerns that the KAEC Financial District would not be competitive have halted development.
Dubai accounts for a quarter of output of the UAE’s economy.
The firm also confirmed that it planned to sell off some assets.
The slowdown would underline the government’s main challenge of creating enough jobs for the country’s growing population of nationals.
Iyad Abdalrahim was formerly CFO of Arabtec’s construction unit.
One of the options under discussion envisages hiving off a large chunk of Alitalia’s $1.11 billion of debt into a separate company.
Under the plan to woo Etihad, the new firm would take on the majority of Alitalia’s debt and around 3,000 staff, a local paper reported.
The issue would be part of a 500 million rial ($1.3 billion) sukuk programme which the bank’s shareholders approved in March,
The IPO was expected to mark the merger of the Abu Dhabi, Dubai indices and help kick start new listings in the UAE.
Chief executive Osman Sultan was bullish on the company’s prospects despite a slow net profit growth of 4.5 per cent in the first quarter.
The bank’s chief executive declined to name the acquisition target.
Accad joins Ahli, a medium-sized lender, from Kuwait’s Gulf Bank where he resigned as CEO last year.
The lender said that it continued to grow its loan book in Q1 2014 while maintaining the structure of its balance sheet with high levels of liquidity and capital.
The issuer completes investor meetings for the deal on May 5 and settlement is scheduled for May 11.
Under the law, individuals found guilty of money laundering will face a jail term of ten years along with a fine ranging from Dhs100,000 to Dhs500,000.
The bank made Dhs636.6 million ($173.3 million) in the opening three months of the year, it said in a statement.
The firm made a net profit of Dhs490.3 million ($133.49 million) in the three months to March 31.
The telco made a net profit of 887 million riyals ($243.62 million) in the three months ended March 31, it said in a statement.
Both companies, which became operational in April 2012, are owned by mostly foreign consortiums.
Mobily signed a memorandum of understanding in August with four of Atheeb’s founding shareholders to buy a controlling interest in the firm.
The lender made a net profit of Dhs575 million ($156.6 million) in the opening three months of 2014, it said in a statement on Wednesday.
The rules include separating the positions of chairman and chief executive, prompt disclosure of information to the market, and establishing internal controls and risk management.
A royal decree last May ordered the liquidation of the firm, which never launched services despite making a winning SAR1 billion bid for a fixed telecom licence in 2007.
Burdett joins from Australia and New Zealand Banking Group, where he was finance head of its international and institutional banking business.
The former monopoly made a net profit of 14.5 million dinars ($38.46 million) in the three months to March 31.
The company had earlier proposed a cash dividend of Dhs0.1 ($0.03) per share plus bonus shares worth 30 per cent of its share capital.
Its total assets grew to Dhs251.2 billion at the end of 2013, up from Dhs239.3 billion on December 31, 2012.
Sources have said that Etihad could invest 500 million euros in return for a 49 per cent stake, but talks reached a stalemate this month when Alitalia raised concerns over the deal conditions.
Heritage said that it was recommending a 320 pence per share cash offer, which represented a 25 per cent premium to its closing price the day before the approach was announced.
Second citizenship expert says he has seen a significant jump in interest from Russian millionaires in the last month.